General Dynamics to Buy
Two Units From Lockheed

By

Stacy Kravetz Staff Reporter of The Wall Street Journal

Updated Nov. 8, 1996 12:01 a.m. ET

FALLS CHURCH, Va. -- General Dynamics Corp. has agreed to acquire two of Lockheed Martin Corp.'s smaller defense units for $450 million, marking still another consolidation move among major U.S. military contractors.

General Dynamics said it signed a definitive agreement to buy Lockheed Martin's Defense Systems, Pittsfield, Mass., which makes turrets and transmissions for combat vehicles, and Lockheed Martin's Armament Systems, which makes advanced gun and fire-control systems in Burlington, Vt., and Milan, Tenn. The units...